E6-5 Calculating Contribution Margin and Contribution Margin Ratio: Identifying Break Even Point, Target Profit (LO 6-1, 6-2] Sandy Bank, Inc., makes one model of wooden canoe. Partial information for it follows: Required: 1. Complete the following table. (Round your "Cost per Unit" answers to 2 decimal places) 450 550 770 S Number of Canoes Produced and sold Total costs Variable Costs Fixed Coats Total Costs Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit 65.250 148,950 214.200 $ 2. Suppose Sandy Bank sells its canoes for 5600 each. Calculate the contribution margin per cance and the contribution margin ratio. (Round your intermediate calculations and final answers to 2 decimal places. Round your "percentago" answer to 2 decimal places. (..1234 should be entered as 12.30%.) per Cance Unit Contribution Margin Contribution Margin Ratio 3. This year Sandy Bank expects to sell 780 canoes. Prepare a contribution margin income statement for the company. (Round your intermediate calculations to 2 decimal places.) SANDY BANK, Inc. Contribution Margin Income Statement For the Current Year Contribution Margin Income from Operations 4. Calculate Sandy Bank's break-even point in units and in sales dollars. (Round final answers to the nearest whole number). Canoes Break-Even Units Break-Even Sales Revenue 5. Suppose Sandy Bank wants to earn $68,000 profit this year. Calculate the number of cances that must be sold to achieve this target (found Unit Contribution Margin to 2 decimal places. Round your answer to the next whole number.) Target Sales Units Concs